Are Price-based Capital Account Regulations Effective in Developing Countries? PDF Download
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Author: Antonio C. David
Publisher: World Bank Publications
ISBN:
Category : Asset Price
Languages : en
Pages : 27
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Book Description
The author evaluates the effectiveness of policy measures adopted by Chile and Colombia, aiming to mitigate the deleterious effects of pro-cyclical capital flows. In the case of Chile, according to his Generalized Method of Moments (GMM) analysis, capital controls succeeded in reducing net short-term capital flows but did not affect long-term flows. As far as Colombia is concerned, the regulations were capable of affecting total flows and also long-term ones. In addition, the co-integration models indicate that the regulations did not have a direct effect on the real exchange rate in the Chilean case. Nonetheless, the model used for Colombia did detect a direct impact of the capital controls on the real exchange rate. Therefore, the results do not seem to support the idea that those regulations were easily evaded.
Author: Antonio C. David
Publisher: World Bank Publications
ISBN:
Category : Asset Price
Languages : en
Pages : 27
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Book Description
The author evaluates the effectiveness of policy measures adopted by Chile and Colombia, aiming to mitigate the deleterious effects of pro-cyclical capital flows. In the case of Chile, according to his Generalized Method of Moments (GMM) analysis, capital controls succeeded in reducing net short-term capital flows but did not affect long-term flows. As far as Colombia is concerned, the regulations were capable of affecting total flows and also long-term ones. In addition, the co-integration models indicate that the regulations did not have a direct effect on the real exchange rate in the Chilean case. Nonetheless, the model used for Colombia did detect a direct impact of the capital controls on the real exchange rate. Therefore, the results do not seem to support the idea that those regulations were easily evaded.
Author: Lawrence D. Cluff
Publisher: DIANE Publishing
ISBN: 0788186701
Category :
Languages : en
Pages : 187
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Book Description
Author: Peter Blair Henry
Publisher:
ISBN: 9780979037634
Category : Capital
Languages : en
Pages : 82
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Book Description
"Writings on the macroeconomic impact of capital account liberalization find few, if any, robust effects of liberalization on real variables. In contrast to the prevailing wisdom, I argue that the textbook theory of liberalization holds up quite well to a critical reading of this literature. The lion's share of papers that find no effect of liberalization on real variables tell us nothing about the empirical validity of the theory, because they do not really test it. This paper explains why it is that most studies do not really address the theory they set out to test. It also discusses what is necessary to test the theory and examines papers that have done so. Studies that actually test the theory show that liberalization has significant effects on the cost of capital, investment, and economic growth"--National Bureau of Economic Research web site.
Author:
Publisher: World Bank Publications
ISBN: 9780195211160
Category : Business & Economics
Languages : en
Pages : 432
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Book Description
This book analyzes the process of international financial integration and the structural forces driving private capital to developing countries. Against this background, it details the potential benefits of integration and the implications of fast-moving global capital flows for emerging economics. Examining the experience of countries that have attracted substantial private capital flows, the book provides invaluable guidance as to what works and what doesn't during the transition to financial integration. It will be of compelling interest to policymakers and also to international investors and bankers, financial analysts, and researchers.
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464814414
Category : Business & Economics
Languages : en
Pages : 254
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Book Description
Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Author:
Publisher: Lulu.com
ISBN: 9291316695
Category : Bank capital
Languages : en
Pages : 294
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Book Description
Author: Maurice Obstfeld
Publisher: Cambridge University Press
ISBN: 9780521633178
Category : Business & Economics
Languages : en
Pages : 382
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Book Description
Publisher Description
Author: Otaviano Canuto
Publisher: World Bank Publications
ISBN: 1464800030
Category : Business & Economics
Languages : en
Pages : 307
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Book Description
This book deals with the challenges of macro financial linkages in the emerging markets.
Author: Eugenia Andreasen
Publisher: International Monetary Fund
ISBN: 1484303318
Category : Business & Economics
Languages : en
Pages : 26
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Book Description
Using a panel data set for international corporate bonds and capital account restrictions in advanced and emerging economies, we show that restrictions on capital inflows produce a substantial and economically meaningful increase in corporate bond spreads. A number of heterogeneities suggest that the effect of capital controls on inflows is particularly strong for more financially constrained firms, establishing a novel channel through which capital controls affect economic outcomes. By contrast, we do not find a robust significant effect of restrictions on outflows.
Author:
Publisher:
ISBN:
Category : Computer network resources
Languages : en
Pages : 300
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Book Description
